China’s consumer price index hit a two-year high in July as pork prices rebounded, according to the National Bureau of Statistics.
Prices of pork, a food staple in China, rose by 20.2% in July from a year ago. The month-on-month gain was the highest on record, according to official data accessed through Wind Information.
"Non-food prices actually declined in July [by 0.1%] from their June level, which reflects weak demand," Zhiwei Zhang, president and chief economist, Pinpoint Asset Management, said in a note.
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